Auction Terms & Conditions Special Terms
This auction is protected by Unified User Agreement unless specific terms are stated below. By bidding in this auction, prospective bidders agree to be bound by the following:
Standard Terms and Conditions
1. Defined Terms.
a. “Buyer” means any individual, entity, or organization that bids on any item for Sale.
b. “Sale” means an online or in person auction facilitated by Madalyn, LLC.
c. “Madalyn” means Madalyn, LLC.
d. “Customer” means a person or entity that contracts with Madalyn to perform a Sale on Customer’s behalf.
2. Requirements for Participation in Sale.
a. Registration. To register for an auction a Buyer must deposit cash, a wire transfer, a major credit card, a letter of credit, or a wire transfer, or other certified funds approved by Madalyn. Online Buyers must provide Madalyn with a valid major credit 24 hours before the start of the Sale.
b. Authorized Rep. to Guarantee Payment. The authorized representative of any corporate Buyer who participates in the Sale shall provide Madalyn with a statement signed by a principal, director or officer certifying that he or she shall personally guarantee any payment due to Madalyn. This may be waived by Madalyn in writing.
c. Buyer’s Fee & Sales Tax. Unless a different Buyer’s Fee is posted, a “Buyer’s Fee” of 18% shall be added to all purchases and where applicable, sales tax shall also be added.
3. Valuation of Items. The Buyer’s determination of its bid is based upon its own examination of the item, and not in reliance on any representations made by Madalyn or third-parties online or elsewhere. BUYER IS RESPONSIBLE FOR THE VALUATION OF ALL ITEMS PURCHASED. Furthermore, Madalyn makes no guarantees to Customer that any item will sell, or sell for a price desired by Customer.
4. Errors in Bidding. Madalyn is not responsible for bidding errors made by Buyer. A Buyer shall bid on the correct item\lot and shall be certain that the bid is an amount (plus the Buyer’s Fee) that the Buyer is willing and able to pay.
5. Errors in Sales Listings. Madalyn is not responsible for any errors in the listing of any item available at a Sale. Customer is responsible for ensuring all listings accurately reflect the items. Owner/Seller Reserves the right to end the sale at anytime. Owner/Seller reserve the right to withdraw items from the sale at any time before, during or after bidding is complete. In the event of removal after bidding is complete, the high bidders sole remedy shall be the refund of the amount actually paid if payment has been made.
6. All Sales Final. Once Madalyn has announced the winning Buyer, said Buyer is unconditionally bound to pay for the item and Buyer’s Fee. ALL SALES ARE FINAL AND ALL ITEMS ARE SOLD “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED OF ANY KIND, PROVIDED BY Madalyn.
7. Payment by Buyer. All amounts due are denominated in United States Dollars unless otherwise noted. By participating in any Sale, Buyer personally and unconditionally guarantees payment to Madalyn. Further, Buyer shall not initiate a charge-back on his or her credit card after payment has been made to Madalyn.
a. United States Based Buyers. Payment for items purchased by US based Buyers is due upon completion of the Sale. Payment must be made with credit card, cash, or cashier’s check. Unless otherwise agreed, Madalyn shall charge Buyer’s Card On File automatically upon completion of the Sale.
b. International Buyers. Payment for items purchased by internationally based Buyers is due 24 hours following completion of the Sale. Payment must be made with credit card, or pre-approved wire transfer. Unless otherwise agreed, Madalyn shall charge Buyer’s Card On File automatically upon completion of the Sale.
If Madalyn must call or otherwise contact Buyer to complete payment, Buyer agrees to pay an additional fee of 5% of the gross sales price to Madalyn. If any Credit Card offered by Buyer is declined, a fee of $10 per card declined will be paid by Buyer to Madalyn. If any check offered by Buyer is not honored, an additional fee of $50 will be paid by Buyer to Madalyn. Buyer is responsible for attorney’s fees, court costs, disbursements, and expenses associated with Madalyn’s collection of outstanding invoices from Buyer. Any amounts not timely paid shall accrue interest at the rate of 1.5% per month until paid. There will be a $25.00 non-refundable wire fee for all payments made via wire transfer.
8. Payment by Customer. All amounts due to Madalyn are payable immediately upon completion of the Sale, or as otherwise agreed upon between Customer and Madalyn. Customer agrees to pay all amounts requested by Madalyn, including but not limited to: commission, cancellation fees, lost commission & profits, attorney’s fees, and all other costs incurred by Madalyn.
9. Pick Up & Shipping. Buyer shall pick up and remove all items during the scheduled removal times. If Buyer fails to do so, all items left behind shall be considered abandoned and Madalyn shall not be liable to Buyer in any way. Buyer is responsible for organizing any shipping arrangements for delivery of purchased items.
The Buyer is solely responsible to provide any personnel, equipment or material needed to pick up and remove all purchases. This includes removing any items that may be attached to walls, floors, ceilings, other equipment or similar. The Buyer shall also be responsible to ensure proper capping of all water, gas and/or power disconnections, and full financial responsibility for any damage or liability to persons or property resulting from any negligent acts or omissions or those of your employees, agents and/or contractors during pick-up and removal.
10. Lost or Stolen Items. Madalyn shall not be responsible to Buyer or Customer for any lost or stolen items.
11. At the request of the auction company, this auction permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf. While Unified User Agreement prohibits this behavior, in accordance with UCC 2-328, this auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder.
